Life insurers offer NRIs refund of GST paid on term insurance premiums
Irrespective of where in the world you live, a financially secure future for your family must be the universal foundation of your financial planning. This is why the need for a robust term insurance plan transcends geographies and demographics.
A term life insurance plan is the financial preparedness that not only provides peace of mind during one’s lifetime but also serves as the much-needed financial backing for the family in distress. Recognising this crucial need, the insurance industry is continuously striving to make term insurance more appealing and meaningful for NRIs or non-resident Indians.
Since 2021, life insurance companies have been incentivising NRIs to buy term insurance policies by offering them 18 percent GST refund on plans bought from India.
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